How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - Smaller, short-lived corrections occur frequently, among them the 1997 Asian financial crisis, the 2011 U.S. debt celing standoff, the 2015 Chinese growth slowdown, the early pandemic drop in 2020, and the 2025 tariff selloff.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - Smaller, short-lived corrections occur frequently, among them the 1997 Asian financial crisis, the 2011 U.S. debt celing standoff, the 2015 Chinese growth slowdown, the early pandemic drop in 2020, and the 2025 tariff selloff.
https://lao.ca.gov/LAOEconTax/article/Detail/852

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - After the dot-com bust and the Great Recession, it took four and five years, respectively, for revenues to recover. Incorporating revenue risk into the budget now, therefore, reflects prudence, not pessimism.
https://lao.ca.gov/Publications/Report/5104

Oversight of certain public benefit artificial intelligence (AI) companies. [Ballot]

Jan 20, 2026 - The measure would have the following major fiscal effects: Increased state costs that would likely be in the tens of millions of dollars annually to establish and operate a new regulatory commission overseeing certain public benefit AI com panies.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-033

The 2026-27 Budget: Department of Developmental Services

Mar 13, 2026 - Total caseload (of Early Start and Lanterman caseload, excluding presumptive eligibility) has increased from about 280,000  individuals served in 2015 to about 460,000 individuals served in 2025. This represents about a 60  percent increase.
https://lao.ca.gov/Publications/Report/5157

The 2026-27 Budget: Permitting Support at the State Water Resources Control Board [Publication Details]

Mar 2, 2026 - In this post, we assess the Governor’s proposal for new positions and associated funding at the State Water Resources Control Board to manage increased workload stemming from a recent U.S. Supreme Court decision.
https://lao.ca.gov/Publications/Detail/5144

The 2026-27 Budget: Permitting Support at the State Water Resources Control Board

Mar 2, 2026 - Water quality is governed by the federal Clean Water Act (CWA) and state Porter-Cologne Water Quality Control Act. Under CWA, the U.S. Environmental Protection Agency (EPA) establishes national standards and delegates authority to SWRCB and its nine regional water boards (collectively referred to as the water boards) to administer federal permitting programs.
https://lao.ca.gov/Publications/Report/5144

The 2026-27 Budget: University of California

Feb 26, 2026 - The 2026-27 Budget: University of California Total $573 a The 2025 ‑26 Budget Act included a payment deferral from 2025 ‑26 to 2026 ‑27. The Governor ’s budget backfills for the one ‑time reduction related to that payment deferral. b The 2025 ‑26 Budget Act included intent language to provide UC with this augmentation. c Consists of $30 million for 2026 ‑27 and
https://lao.ca.gov/Publications/Report/5143

The 2026-27 Budget: Department of Developmental Services [Publication Details]

Mar 13, 2026 - Analyzes the Governor’s budget for the Department of Developmental Services (DDS), with a focus on a budget proposal to continue planning the proposed Life Outcomes Improvement System (LOIS) information technology project, implementation of new H.R.
https://lao.ca.gov/Publications/Detail/5157

The 2026-27 Budget: CDTFA’s Cannabis and Tobacco Programs

Feb 23, 2026 - When we reviewed this issue in The 2015‑16 Budget: Cigarette Tax and Licensing Programs , we did not find this argument compelling. We recommended that the Licensing Program be funded exclusively through license fees, which is how it is funded today.
https://lao.ca.gov/Publications/Report/5132